EasyJet on brink of promotion to FTSE100

EasyJet on brink of promotion to FTSE100

EasyJet is expected to be promoted to the FTSE 100 Index this week.

The budget carrier is the most likely candidate to be promoted when the FTSE Group issues its latest quarterly review on Wednesday.

The airline, the London market's 82nd largest company with a value of £4 billion, will be large enough to earn a place among the ranks of blue-chip companies.

Shares in easyJet closed at a record high of 1,017p on Friday, having stood at just under 400p when Carolyn McCall took over as chief executive in July 2010.

The company, which joined the stock market in 2000, has benefited from an improved operational performance and the launch of allocated seating, which helped attract 10 million business passengers last year.

EasyJet has consistently beaten City expectations for profits but a long-running war of words with founder and major shareholder Sir Stelios Haji Ioannou has overshadowed some of its recent success.

Sir Stelios, whose family holds around 36% of the company's shares, has been unhappy at plans to place a large order for a fleet of more fuel-efficient aircraft.


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